tutti a rompere i maroni e a fare la morale al club med però i mattoni bric non è che hanno molto più mercato
To Brazil, from Europe with love
Posted by
Tracy Alloway on Jun 02 08:40. How far away can the volatile effects of the
eurozone crisis be felt?
As far away as Brazil, apparently.
On Tuesday, the
emerging-markets powerhouse experienced what basically amounts to a failed bond auction. Brazil’s Treasury
cancelled the sale of $81m of fixed-rate notes due in 2021:
And not for the first time either.
That’s the
third scrapped auction of Brazilian fixed-rate bonds maturing in 2021 in the past month. The first cancellation was on May 6 and the second on
May 27. The reason given (via
Bloomberg) :
Deputy Treasury Secretary Paulo Valle said “volatility” in global markets has created a yield premium that Brazil “won’t sanction.” The government doesn’t release average yields bid at failed auctions.
“The market understands and even supports this refusal by the Treasury,” Valle said in a telephone interview from London. “The increase in volatility in the last two weeks is temporary.”
Temporary coupling. Nice.
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